Septentrion Finance has advised the management of Blancheporte
29/09/2022
To activate new growth drivers, Blancheporte opens its capital to NOV RELANCE IMPACT, managed by Turenne Groupe, and Nord Capital Investissement.
Six years after its acquisition from the 3SI Group, Blancheporte has just completed its turnaround phase. In 2021, the company recorded revenue of €204 million, marking the sixth consecutive year of growth (+12.5% versus 2020 and +25% since 2016), and reported a profit increase of +36% compared to 2020.
Behind this turnaround is a complete transformation of the company. Starting in 2017, a vision exercise conducted with employees identified priority projects to undertake. The outsourcing of support functions such as logistics, IT engineering, and customer relations was completed to enable teams to focus on the company’s core business: creating collections and marketing them. The omnichannel model, a subtle blend of paper catalogues and digital channels, was revisited. An investment plan exceeding €10 million was launched from 2019 to 2021 to optimize efficiency. This allowed for an overhaul of information systems and the development of a new digital platform launched in March 2022. Simultaneously, the brand was redesigned and featured in communication campaigns aimed at attracting new customers. The product offering was also revamped in terms of style, collection rhythm, and environmental impact. New segments — including footwear and children's bedding — were added to strengthen the average basket. For several seasons now, 3D design has introduced more agile and environmentally friendly methods.
Today firmly established among the top 10 French fashion & home e-commerce players, Blancheporte is entering a new phase. Having regained robustness, the company intends to activate new growth drivers. Various options are under consideration, such as activating new distribution channels, international expansion, external growth, or establishing strategic partnerships. To carry out one or several of these projects, Blancheporte has welcomed two new shareholders: Nord Capital Investissement, a subsidiary of Crédit Agricole Nord de France managed by Nord Capital Partenaires, and Nov Relance Impact, managed by Turenne Groupe and launched by France Assureurs and Caisse des Dépôts within the framework of the “Assureurs – Caisse des Dépôts Relance Durable France” investment program. They were chosen for their regional roots and expertise in CSR. These new minority shareholders, holding 20% of the capital, will not only provide financial support but also bring complementary expertise to assist the current governance in the controlled and sustainable development projects being designed for Blancheporte.
“This capital increase allows us to strengthen ourselves and prepare for the next stages of the company’s development. The momentum initiated since the acquisition of Blancheporte in 2016 can now be accelerated further. We are delighted to enter this new phase with Nord Capital Investissement and NOV RELANCE IMPACT. We share the same entrepreneurial vision focused on responsible growth,” said Franck Duriez, Chairman of Blancheporte.
“The development project led by Blancheporte’s shareholder-managers attracted us with its ambition and resolutely responsible and sustainable approach. We are extremely enthusiastic about supporting Blancheporte in this new acceleration phase. We are convinced that the company will activate new growth drivers while strengthening its efforts for positive impacts on the environment, governance, and social responsibility,” added Anne-Sophie Maes and Vincent Chadenat, Investment Directors at Turenne Groupe and Nord Capital Partenaires.
---------------
Sell-side advisors:
- M&A: Septentrion Finance (Damien Barenne, Thibault Bouchoir, Amélie Crépin)
- Legal: Cornet Vincent Segurel (Dominique Stucki, Clara Dubrulle)
Buy-side advisors:
- Legal: HEPTA (Jean-Louis Sudara, Vincent Bernard)
- Financial due diligences: EY (Matthieu Jaud de la Jousselinière, Mathieu Mousseron)
- Legal due diligences: EY Société d’Avocats (Etienne Durieux, Benoit Losfeld, Paule Welter, Matthieu Colling)
- ESG due diligences: SIRSA (Pierre Herard)
- Strategic due diligences: Digital Value (Arnaud de Baynast, Romain Bury, Xudong Zhang)